This questions concerns receiving a refund of a deposit on an
apartmental rental before being approved by the prospective landlord
and signing a lease. I signed a propsal, submitted by my real estate
agent, to rent an apartment from a condo owner and, when that proposal
was accepted (24 hours later)by the real estate agent representing the
owner made 2 payments: 1) $100 to the condo association for a credit
and reference check and 2) a check for $975 (representing 1 months
rent) made payable to MY real estate agent's employer, being assured
it would be held in an escrow account until the least was executed.
The listing on the apartment said that the approval process took 2-3
weeks, which I informed my agent was important to me as I had to give
2 months notice on my current apartment lease and did not want to do
so until I knew the new lease would be approved. After 3 weeks, with
no activity, I informed my agent that I was concerned and was
reconsidering the application, as the process was taking too long.
Three days later I told my agent that I would probably cancel the
application. After 4 weeks from the acceptance of the propsal, I
informed my agent that I wished to cancel the application and he so
informed the other realtor (as I did in writing as well). I want my
$975 refunded from my realtor's escrow account, but they are saying
I'm not entitled to it as I would have probably been approved before
the actual intended move in date and the apartment had been taken off
the market for 4 weeks (it had been on the market for over 3 months
before I made my application). I was never told that, should either
party not actually sign a lease, my deposit would not be refundable.
Am I intitled to a prompt refund? The jurisdiction is Florida (Broward
County, Fort Lauderdale). Does the real estate agency holding this
money in their name (Atlantic Realty), claiming it's in an escrow
account, have the right to transfer the money to the prospective
owner's realtor's account without my permission? If I am entitled to a
refund and my real estate agent's broker refuses, what recourse do I
have (arbitration, legal action, state or county real estate
regulatory authority)? Thank you. |
Request for Question Clarification by
pafalafa-ga
on
10 May 2003 16:23 PDT
Stu,
Sorry to hear about the trouble you're having. Umiat and Journalist
are right in their comments -- small claims is one of your best
options as this point. Often, merely letting the parties know (I
would suggest, in writing) that you will file a claim is enough
motivation to get them to settle with you. And if not, when they
receive the actual notice that a claim has been filed, again, they
might feel a strong urge to settle before going to court.
But if push comes to shove, the small claims court will hear your case
about any money lost (which can include not only the $975, but other
money as well, such as your filing fees at court, and even, perhaps,
the money you might wind up spending here for advice) and make a
decision, usually fairly clear-cut in favor of one party or the other.
If you want details on how to go about the small claims process in Ft.
Lauderdale, let me know, and I'll be happy to provide them as an
answer to your question.
|
Clarification of Question by
stu-ga
on
10 May 2003 18:40 PDT
The 2-3 week timetable is the average waiting period for condo rentals
and was not put in writing in this specific case. I cancelled before
being approved by the condo board, however, and before they even tried
to schedule a prerequisite interview. Indeed, I spoke directly to the
President of the condo association three weeks after the application
was approved; he promised to get back to me in 4 days, but didn't.
Indeed the condo association only began a credit check and reference
check AFTER my real estate agent told the owner's agent his client
(me) wished to cancel. During this period, the owner could have turned
me down for any reason...so I assumed I had the same right.
|
